Comments on: Financial literacy meets the mobile network operator http://technology.cgap.org/2009/12/07/financial-literacy-meets-the-mobile-network-operator/ How can technology increase the reach of microfinance? Mon, 06 Feb 2012 18:55:24 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: The Need for Financial Literacy in Microfinance and its Impact : Microfinance Africa http://technology.cgap.org/2009/12/07/financial-literacy-meets-the-mobile-network-operator/comment-page-1/#comment-2700 The Need for Financial Literacy in Microfinance and its Impact : Microfinance Africa Wed, 29 Sep 2010 19:14:10 +0000 http://technology.cgap.org/?p=1709#comment-2700 [...] Familiarity (high comfort level) with branchless banking services can improve uptake, which will benefit the MFI itself. [...] [...] Familiarity (high comfort level) with branchless banking services can improve uptake, which will benefit the MFI itself. [...]

]]> By: Mary Kenson http://technology.cgap.org/2009/12/07/financial-literacy-meets-the-mobile-network-operator/comment-page-1/#comment-1575 Mary Kenson Sun, 13 Dec 2009 13:00:01 +0000 http://technology.cgap.org/?p=1709#comment-1575 Thank you Julie! Please keep us updated. Thank you Julie! Please keep us updated.

]]> By: Julie Lee http://technology.cgap.org/2009/12/07/financial-literacy-meets-the-mobile-network-operator/comment-page-1/#comment-1572 Julie Lee Thu, 10 Dec 2009 18:29:36 +0000 http://technology.cgap.org/?p=1709#comment-1572 Mary, thanks for your interest in our project. If you go to this link from our website, you can find our working paper that presents our market research in four countries and makes the case for financial education for branchless banking. http://www.globalfinancialed.org/documents/Branchless%20Banking.pdf We are just getting started with this project, but we will begin posting more information soon. Mary, thanks for your interest in our project. If you go to this link from our website, you can find our working paper that presents our market research in four countries and makes the case for financial education for branchless banking.

http://www.globalfinancialed.org/documents/Branchless%20Banking.pdf

We are just getting started with this project, but we will begin posting more information soon.

]]> By: Mary Kenson http://technology.cgap.org/2009/12/07/financial-literacy-meets-the-mobile-network-operator/comment-page-1/#comment-1557 Mary Kenson Wed, 09 Dec 2009 20:09:45 +0000 http://technology.cgap.org/?p=1709#comment-1557 I think GCASH has some customer education. But as pointed out by Julie, it is more focused on marketing and not financial literacy. Julie, where can I find some more info about your project. It looks very interesting! I think GCASH has some customer education. But as pointed out by Julie, it is more focused on marketing and not financial literacy.

Julie, where can I find some more info about your project. It looks very interesting!

]]> By: Julie Lee http://technology.cgap.org/2009/12/07/financial-literacy-meets-the-mobile-network-operator/comment-page-1/#comment-1550 Julie Lee Wed, 09 Dec 2009 19:30:50 +0000 http://technology.cgap.org/?p=1709#comment-1550 Not that I know of. Activities by MNOs right now seem to be more focused on product orientation and/or marketing. Not that I know of. Activities by MNOs right now seem to be more focused on product orientation and/or marketing.

]]> By: Andrew webber http://technology.cgap.org/2009/12/07/financial-literacy-meets-the-mobile-network-operator/comment-page-1/#comment-1536 Andrew webber Wed, 09 Dec 2009 14:20:09 +0000 http://technology.cgap.org/?p=1709#comment-1536 Julie, this sounds great, thanks. Do you know of any initiatives that have been introduced by MNOS? Julie, this sounds great, thanks. Do you know of any initiatives that have been introduced by MNOS?

]]> By: Julie Lee http://technology.cgap.org/2009/12/07/financial-literacy-meets-the-mobile-network-operator/comment-page-1/#comment-1532 Julie Lee Wed, 09 Dec 2009 11:44:49 +0000 http://technology.cgap.org/?p=1709#comment-1532 Microfinance Opportunities, with support from the MasterCard Foundation, is launching a project that will develop financial education for mobile banking and electronic cards. Partnering with MNOs and financial service providers from LAC, Asia and Africa, we will be developing four financial education models to educate low-income populations on how to make more informed financial decisions, improve their money management skills and strengthen their understanding of branchless banking both in terms of usability and financial access. We are looking in particular at youth, women and the unbanked. One key aspect of the project will be to look at delivering financial education through alternative delivery channels such as radio, print, etc to reach populations on a large scale. We will be sharing the financial education models and our learnings from the project with the field. Stay tuned! Microfinance Opportunities, with support from the MasterCard Foundation, is launching a project that will develop financial education for mobile banking and electronic cards. Partnering with MNOs and financial service providers from LAC, Asia and Africa, we will be developing four financial education models to educate low-income populations on how to make more informed financial decisions, improve their money management skills and strengthen their understanding of branchless banking both in terms of usability and financial access. We are looking in particular at youth, women and the unbanked. One key aspect of the project will be to look at delivering financial education through alternative delivery channels such as radio, print, etc to reach populations on a large scale. We will be sharing the financial education models and our learnings from the project with the field. Stay tuned!

]]> By: IFAP Information Society Observatory http://technology.cgap.org/2009/12/07/financial-literacy-meets-the-mobile-network-operator/comment-page-1/#comment-1530 IFAP Information Society Observatory Wed, 09 Dec 2009 08:41:13 +0000 http://technology.cgap.org/?p=1709#comment-1530 <strong>Financial literacy meets the mobile network operator...</strong> Title: Financial literacy meets the mobile network operator Author: Olga Morawczynski Source: CGAP: Consultative Group to Assist the Poor Date (published): 07/12/2009 Date (accessed): 09/12/2009 Type of information: blog post Language: English On-line... Financial literacy meets the mobile network operator…

Title: Financial literacy meets the mobile network operator
Author: Olga Morawczynski
Source: CGAP: Consultative Group to Assist the Poor
Date (published): 07/12/2009
Date (accessed): 09/12/2009
Type of information: blog post
Language: English
On-line…

]]> By: Mary Kenson http://technology.cgap.org/2009/12/07/financial-literacy-meets-the-mobile-network-operator/comment-page-1/#comment-1474 Mary Kenson Mon, 07 Dec 2009 22:20:57 +0000 http://technology.cgap.org/?p=1709#comment-1474 Yes, I agree that this is useful. The question is how can this be done and WHO should pay for it. Does anyone know of financial education projects that use the second approach? I mean, teach beyond the basics of usability? Thank you. MK Yes, I agree that this is useful. The question is how can this be done and WHO should pay for it. Does anyone know of financial education projects that use the second approach? I mean, teach beyond the basics of usability?

Thank you.

MK

]]> By: Julie Lee http://technology.cgap.org/2009/12/07/financial-literacy-meets-the-mobile-network-operator/comment-page-1/#comment-1473 Julie Lee Mon, 07 Dec 2009 18:47:33 +0000 http://technology.cgap.org/?p=1709#comment-1473 By improving low-income consumers’ understanding of the full range of financial products and services available to them, financial education can help migrate low adopters who use only one or two offerings like transfers and payments, to using other products and services linked to bank accounts such as savings. Consumers will need to understand the broader value proposition for formal financial services before they can maximize the benefits of mobile banking. So even if clients understand how to operate a mobile phone and use the applications, they still may not be fully aware of how to leverage the financial access that mobile banking provides. Mobile banking is a huge step towards improving access to financial services for the poor; financial education can help the poor recognize what opportunities that access can provide for them. By improving low-income consumers’ understanding of the full range of financial products and services available to them, financial education can help migrate low adopters who use only one or two offerings like transfers and payments, to using other products and services linked to bank accounts such as savings. Consumers will need to understand the broader value proposition for formal financial services before they can maximize the benefits of mobile banking. So even if clients understand how to operate a mobile phone and use the applications, they still may not be fully aware of how to leverage the financial access that mobile banking provides. Mobile banking is a huge step towards improving access to financial services for the poor; financial education can help the poor recognize what opportunities that access can provide for them.

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